Ann: 2011 Annual Report , page-5

The potential personal care applications for magnetic arrays have continued to receive substantial interest from
several FMCG and prestige cosmetic companies. A key achievement in this area was the announcement in
September 2010, of a Strategic Alliance program with one of the world's largest FMCG companies. Work on this
latter program has proved particularly encouraging, with magnetic array technology now demonstrated to improve
the delivery of several key therapeutic agents - both ex vivo and in vivo. The most effective approach to bringing
one or more applications to market is now the focus of discussions.